Window Automation Market Showing 5.5% CAGR Growth to 2024: Company Profiles & Trends Analysis

MarketStudyReport.com adds a new Window Automation Market research report that provides a detailed market overview as well as industry analysis for / of companies, manufacturers and distributors covering data on gross margin, cost structure, consumption value, sale price and more.

Automation is the need of the hour, the pathway to a comfortable & convenient lifestyle, subject to which window automation market is expected to generate lucrative gains over the next few years. Rapid urbanization and the development of smart homes will push window automation industry growth a notch higher. In a bid to expand automatic ventilation systems industry, the governments of various countries are investing significantly in infrastructural development to generate revenue via tourism and attract foreign investors. This in turn, will be a major factor driving window automation market.
Window Automation Market Market size is set to surpass USD 7.5 billion and will grow at around 5.5% CAGR from 2016 to 2024; according to a new research report.
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Growing automation demand for user comfort & convenience, optimized energy consumption, and reduction in CO2 emissions will support the industry growth over the forecast timeline. Longer life cycle and robustness of these solutions is expected to fuel popularity levels among consumers.
Certification companies/organizations provide guidelines regarding design specifications and safety measures which must be established at the workplace, enabling manufacturers to develop products for marketing in different regions. The legislations and standards introduced by regional authorities in the interest of smoke ventilation & emergency escape situations coupled with reduced environmental impact will present significant growth opportunities to this industry from 2016 to 2024.
Hybrid, mechanical, and electric are the key products of window automation market. Hybrid products save lots of energy, as they use mechanical components. In addition, the use of the fan is avoided, which will reduce the total electricity cost. This, in turn, will fuel window automation market share. Electric window automation held the largest share of the global market in 2015 and is predicted to collect significant revenue over the coming seven years. The growth can be attributed to the implementation of highly reliable and automated sensors and actuators in the devices.
Considering the regional landscape, China window automation market size will collect considerable revenue over the years ahead. China has implemented various building codes to propagate natural lighting, smoke evacuation, and ventilation. This, in turn, will augment the market growth.
Europe window automation industry will exhibit substantial growth rate over the period of 2016 to 2024, owing to the growing product adoption to generate cooling or heating effects in desirable weather conditions. Moreover, regulatory norms regarding the work safety across the smoke ventilation application will boost the need for window automation.
Window automation market is widely fragmented across the globe. Most of the companies are working on cost reduction and product differentiation. Many market participants are expanding their regional distribution channels to gain considerable profits. Joint ventures and acquisitions are key growth strategies adopted by market players to sustain the competitive business space.

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